Fountain Powerboats to Present at the
Wall Street Analyst Forum's 16th Annual Conference in New York
Washington, NC - May 27, 2005 - Fountain Powerboats, Inc. (AMEX:FPB), a subsidiary of Fountain Powerboat Industries, Inc. and leading manufacturer of high performance sport boats, sport fish boats and express cruisers, announced today that it will be presenting to members of the financial community at the Wall Street Analyst Forum's 16th Annual Analyst Conference in New York City on June 1, 2005. Fountain Powerboats' Chairman and CEO, Reggie M. Fountain, Jr., and Chief Financial Officer, Irving Smith, will be presenting in the leisure and products and services industry group at 11:00 A.M. on Wednesday, June 1, 2005.

"We are pleased to have been invited to present at The Wall Street Analyst Forum Conference," said Fountain Powerboats Chief Financial Officer Irving Smith. "We anticipate this conference to be an outstanding venue for increasing Fountain Powerboats' exposure among a highly-targeted group of investment professionals."
The Wall Street Analyst Forum's annual analyst conference attracts hundreds of select and invited financial industry professionals from buy-side and sell-side firms, including brokers, portfolio and fund managers, investment bankers and analysts. The conference is being held at the Roosevelt Hotel located on Madison Avenue at 45th Street, on the second floor. For information or to RSVP, please call 802.253.7596, or visit www.analyst-conference.com . The presentation will be web cast live by Vcall and can be accessed by visiting: http://www.vcall.com/CEPage.asp?ID=92012 .

About Fountain Powerboats, Inc.
Fountain Powerboats, Inc., a subsidiary of Fountain Powerboat Industries, Inc., has its executive offices and manufacturing facilities along the Pamlico River in Beaufort County, North Carolina. The company designs, manufactures and sells offshore sport boats, sport fishing boats and sport cruisers that target the segment of the recreational power boat market where speed, performance, safety and quality are the main criteria for purchase. These recreational boats are based upon an innovative, award-winning design enabling world-class performance while using standard reliable power. There are currently 12 buildings located on 65 acres totaling over 243,000 square feet accommodating 30 to 40 boats in various stages of construction at any one time. The present plant site can also accommodate up to 300,000 square feet of additional manufacturing space. The land and buildings are wholly owned by Fountain Powerboat Industries, Inc., and its subsidiary, Fountain Powerboats, Inc.

SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS:
Except for the historical information contained herein, this press release contains forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" and similar words. Such forward-looking statements are subject to known and unknown risks, uncertainties or other factors that may cause the company's actual results to be materially different from historical results or any results expressed or implied by such forward-looking statements. We assume no obligation to update any forward-looking statements to reflect events or circumstances arising after the date hereof. The potential risks and uncertainties which could cause actual growth and results to differ materially include, but are not limited to, customer acceptance of the company's services, products and fee structures, the success of the company's brand development efforts, the volatile and competitive nature of the industry, and changes in domestic and international market conditions, and foreign exchange rates. Further information on the factors and risks that could affect Fountain Powerboat Industries, Inc.'s business, financial condition and results of operations are included under the "Risk Factors" or "Factors Affecting our Operating Results" sections of Fountain Powerboat Industries, Inc. public filings with the Securities and Exchange Commission, available at (http://www.sec.gov).